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Computation of Net (Loss) Income Per Common Share
 6 Months Ended
Sep. 30, 2012
Computation of Net (Loss) Income per Common Share [Abstract]  
Computation of Net (Loss) Income Per Common Share

3. Computation of Net (Loss) Income per Common Share

Basic net (loss) income per share (“EPS”) is computed by dividing net (loss) income by the weighted-average number of common shares outstanding for the period. Where applicable, diluted EPS is computed by dividing the net (loss) income by the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period, calculated using the treasury stock method. Common equivalent shares include the effect of restricted stock, exercise of stock options and warrants and contingently issuable shares. For both the three and six months ended September 30, 2012, 8.8 million shares, were not included in the calculation of diluted EPS as they were considered anti-dilutive, of which 3.0 million shares relate to unvested stock options, 3.2 million shares relate to the issuance of warrants, and 2.6 million shares relate to the convertible feature of the Company’s Convertible Notes. For both the three and six months ended September 30, 2011, 2.6 million shares of unvested stock options were not included in the calculation of diluted EPS as they were considered anti-dilutive.

The following table reconciles the numerators and denominators of the earnings per share calculation for the three and six months ended September 30, 2012 and 2011 (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

Six months ended

 

 

September 30,

 

 

September 30,

 

 

2012

 

2011

 

 

2012

 

2011

Numerator:

 

 

 

 

 

 

 

 

 

  Net loss

$
(15,949)

$
(51,709)

 

$
(26,224)

$
(89,388)

Denominator:

 

 

 

 

 

 

 

 

 

  Weighted-average shares of common stock outstanding

 
52,606 

 
51,232 

 

 
52,202 

 
51,090 

  Weighted-average shares subject to repurchase

 
(699)

 
(356)

 

 
(651)

 
(374)

Shares used in per-share calculation ― basic

 
51,907 

 
50,876 

 

 
51,551 

 
50,716 

 

 

 

 

 

 

 

 

 

 

Shares used in per-share calculation ― diluted

 
51,907 

 
50,876 

 

 
51,551 

 
50,716 

 

 

 

 

 

 

 

 

 

 

Net loss per share ― basic

$
(0.31)

$
(1.02)

 

$
(0.51)

$
(1.76)

Net loss per share ― diluted

$
(0.31)

$
(1.02)

 

$
(0.51)

$
(1.76)